The data from morenodv is quite interesting — the bottom range has arrived, but the real reset hasn't come yet, so let's wait and see.

CoinWorld News, according to CryptoQuant analyst morenodv, the Bitcoin UTXO profit/loss ratio model reading has fallen into a range commonly seen at historical bottoms. The analyst emphasized that the 365-day moving average needs to decline more significantly to prove that the market's long-term profit structure has been reset. Although a short-term rebound caused by short squeezing may occur currently, if the profit/loss ratio fails to be continuously rebuilt, it should not be regarded as a signal of structural recovery. Signs of internal cleanup in BTC have just emerged, and the market still needs to endure more pressure.